DES MOINES, Iowa—The weekly fuel report, released by the Iowa Department of Agriculture and Land Stewardship showed retail diesel prices in Iowa were up 4 cents this week with a statewide average of $3.75. The data was all reported prior to the Russian invasion of the Ukraine Thursday.

Crude Oil Summary

• The price of global crude oil rose this week on the West Texas Intermediate (WTI) by $2.66 per barrel over last week, currently priced at $96.77.
• Brent crude oil rose $8.20 and currently priced at $103.61.
• One year ago, WTI crude sold for $63.22 and Brent crude was at $66.85.

Motor Fuels

• As of Thursday, February 24, the price of regular unleaded gasoline averaged $3.35 across Iowa according to AAA.
  • Prices rose 2 cents from last week’s price and 70 cents higher than one year ago.
  • The national average on Wednesday was $3.54, up 3 cents from last week’s price.
• Retail diesel prices in Iowa were up 4 cents this week with a statewide average of $3.75.
  • One year ago, diesel prices averaged $2.84 in Iowa.
  • The current Iowa diesel price is 21 cents less than the national average of $3.96.
• Wholesale ethanol held steady and is currently priced at $2.16.
• The current Des Moines Terminal/Rack Prices are $2.55 for U87-E10, $2.87 for Unleaded 87 (clear), $2.85 for ULSD#2, $3.06 for ULSD#1, and $2.41 per gallon for E-70 prices.

Heating Fuels

• Propane prices were steady with a statewide average of $1.98 per gallon.
• Home heating oil prices fell 14 cents, with a statewide average of $3.15 per gallon.
• Natural gas prices rose $.27 at the Henry Hub reporting site and are currently priced at $4.79/MMbtu.

Tips for saving energy on the road or at home are available at energy.gov and fueleconomy.gov.

(contributed press release)